October 21, 2020

Epic Ventures Review

Overview

Epic Ventures is basically the company behind the infamous 72Options named broker. The company was established in 2014 only. 72Options is basically a binary options broker that is based out of Europe. It seems to be based out of Sofia, Bulgaria, but can’t be verified. Also, based on the claim that it is based in Bulgaria, it still doesn’t seem to be regulated by Bulgarian Financial Commission. Also, there have been reports of the company advertising and pushing in the UK, Australia and New Zealand.The company makes use of a web based platform powered by SpotOption. Read the full Epic Ventures review here.

About Epic Ventures

Epic Venture’s broker, 72Option provides a variety of options in trading on its platform like Call/Put Trades; 60 Second Trades and Long Term Trades. The platform that they use is SpotOption, which is the market standard in binary options trading platforms. Apart from this, when we come to the various payment options, they claim to accommodate all sorts of payment options, that include debit/credit cards, bank transfer and some e-wallets as well. But the minimum deposit using a Bank transfer is $500, and using a debit/credit card is $250. Both of these deposits are pretty high, by any market standards. There is no clear information about the minimum bet size on trades.

But the biggest red flags for this company are the various regulators that have blacklisted them. While we mentioned earlier that the company is not regulated by the regulator of their home country of Bulgaria, it is worth mentioning that no other regulator authorizes it as well. But apart from not being regulated, it is actively shunned by various organizations. The Financial Conduct Authority (FCA), the regulator of financial tradings in the UK issued a statement in April, 2018 that cautioned the British people against Epic Ventures. Not just the FCA, The Australian Securities and Investments Commission (ASIC), also warned the Australian people against dealing with them. The same was done by the Chinese regulator, Securities and Futures Commission of Hong Kong (SFC).

The Verdict

Given that the company has been actively shunned by various financial regulators makes it a very simple decision to avoid dealing with this broker. Whatever country you might be in, this broker is probably not licensed and you should be really careful.